At the UN Climate Action Summit, EIB President Werner Hoyer has announced the new climate ambitions of the EU Bank. He said “The world is heading in the right direction, but it is behind schedule and we need to speed up our response. We need to use scarce public resources better and mobilise private investment for this fight. Without private investment, we will not succeed.”
In this commentary published by project syndicate, he explains how the public and private sectors can work together to finance the green transition.
At the UN Climate Action Summit 2019 and the UN General Assembly (UNGA), the EIB will be discussing its new ambition for climate action with delegates from countries, business, the private sector and civil society.
On 12 December 2015, the international community made history when it adopted the Paris Agreement. Five years on, the United Nations, United Kingdom and France are organising the Climate Ambition Summit 2020, in partnership with Chile and Italy. Leaders from governments and non-state actors will present new commitments to deliver on the Paris Agreement. The summit marks an important milestone ahead of next year’s COP 26 conference in Glasgow.